Numerous techniques may be used in various combinations to separate slag material, which is comprised of particles, into by-products of differing iron content. A number of factors affect the efficiency and effectiveness of each technique, including variability in the size, shape, metal content, chemical composition, friability, malleability, and magnetic susceptibility of the particles of the slag material. The economic feasibility of processing slag materials to recover usable products, which may include iron rich products suitable as charge stock to an iron or steel refining operation, for example, is dependent upon the iron content of the raw material, and the efficiency and effectiveness of the processing method used to separate the raw material into its by-products. Efficiency and effectiveness of the processing method may be compromised when the processing method is limited in flexibility, or where flexibility is expensive. For example, the flexibility of a fixed permanent magnet separator may be limited to the fixed strength and position of the permanent magnets within the separator. Using a magnetic separator including an electromagnet allows for adjustment of the strength of magnetic field used for separation, however at a significantly higher cost to power the electromagnet.